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Governance

Bank regulatory bodies need to co-ordinate their strategies for dealing with emerging financial technology at a global level, says a new report from International Organization of Securities Commissions (Iosco).

Fintech firms should welcome, not fear, regulation because it is in their interest to have an "established framework" in which to operate, says the president of the Federal Reserve Bank of Philadelphia.

Financial regulation and technology experts at international law firm Pinsent Masons call for end to 'advice versus guidance' debate to avoid hindering innovation in robo advice.

Wolters Kluwer’s Governance, Risk & Compliance (GRC) Division, which includes the company’s financial services and corporate legal services business lines, has acquired US-based Vcorp Services, LLC. This 22 person firm is a provider of registered agent, UCC and other corporate legal services. The acquisition strengthens the Division’s “existing portfolio of legal and compliance products and services by furthering CT Corporation's reach into its core markets, including small and mid-sized law firms and corporations”, Wolters Kluwer GRC said in a statement.

The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG (Deutsche Bank) £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015.

Qlik®, a leader in visual analytics, and Forbes Insights today released results from "Breakthrough Business Intelligence: How Stronger Governance Becomes a Force for Enablement,” a global study revealing that while Business Intelligence (BI) is yielding important benefits for the vast majority of surveyed companies, most feel there is more to come.

The Securities and Exchange Commission has fined Merrill Lynch $12.5 million for ineffective trading controls which led to a series of "mini-flash crashes".

Matt Gibbs, Product Manager at Linedata, the leading international software and technology provider, comments on the key regulatory challenges facing financial services organisations in 2017, and how a more holistic regulatory technology approach should be adopted to reduce mounting pressure:

US regulators have set out plans to strengthen the way they oversee big banks in a bid to protect the country's financial system in the event of a major cyberattack or technology failure.

As regulators focus more on risk data aggregation, bankers would be well advised to devote more time and resources to RegTech and other next-generation systems. That’s according to a new white paper by Wolters Kluwer’s Finance, Risk & Reporting business.

Results of a new survey reveal that technological and operational projects are high on the list of priorities for asset managers over the next 12 months as they respond to the changing regulatory landscape and to meet the evolving needs of their clients. The report, which is being launched at the TSAM Boston conference taking place tomorrow, reveals that over half (52%) of asset management companies surveyed are planning to replace out-dated or legacy technologies in the next 12 months.

Wells Fargo has failed to convince a judge to dismiss a lawsuit brought against it by an Ecuadorian bank in connection with a $12 million theft made over the Swift network.

AxiomSL CEO Alex Tsigutkin will present ‘Staying ahead of the regulatory curve: Focusing on firms’ sustainability and profitability with all of the IT transformation and regulatory compliance controls in place’ at this year’s Sibos conference in Geneva.

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